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  • #121
  • Apr 14, 2010 9:16am Apr 14, 2010 9:16am
Quoting ogeid
Hi Nasir,

I read you a lot in the J16. Nice to talk to you and LJoy.

Why would you short oil at 85/85.5 ? It looks pretty bearish to me. There was a strong reaction to go further down with the long Pin Bar in H4 (long tail)
Just for my understanding.
Tx
.
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  • #122
  • Apr 14, 2010 9:27am Apr 14, 2010 9:27am
Quoting nasir.khan
.
I see what you mean and it makes sense.
Normally oil retrace at least to 61% Fibo. My question was more on the fact that I do not know if this swing up from 70 level is finished. There is also a strong resistance at 100. Nice attractive number!
Tx for your explanation.
  • #123
  • Apr 14, 2010 9:28am Apr 14, 2010 9:28am
Quoting nasir.khan
.
Roughly same chart...I had the first resistance @ 85.40 ish hence why was foucussing on confluence here?
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  • #124
  • Apr 14, 2010 9:28am Apr 14, 2010 9:28am
.
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  • #125
  • Apr 14, 2010 10:18am Apr 14, 2010 10:18am
Oil short got triggered @ 85.40 SL @ 86.40 - 2%

Added another UJ position @ 93.60, G/J @ 144.72 CJ@ 93.70 and went long AU again @ 0.9353 (should never had taken profit on earlier long)...2% on AU 0.5% on others.

Notice how dow has taken off but xxx/JPy is stalling (but xxx/USD is rising with Dow)...if only US retail and CPI numbers had been bad and JP Morgan + Intel earnings poor then xxx/JPY would have taken off lower fast....oh well.
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  • #126
  • Apr 14, 2010 10:21am Apr 14, 2010 10:21am
Quoting nasir.khan
.
Yeah I got this ...went in early to see if the 1HR double top holds
  • #127
  • Apr 14, 2010 10:25am Apr 14, 2010 10:25am
Great thread, thanks.

eurcad buy possible IMO.....

Be like water.
  • #128
  • Apr 14, 2010 10:34am Apr 14, 2010 10:34am
Quoting msmarple
Great thread, thanks.

eurcad buy possible IMO.....

Thanks...yeah it filled the gap then bounced back up...I decided to hold onto this and leave the SL in place.
  • #129
  • Apr 14, 2010 10:43am Apr 14, 2010 10:43am
Quoting lovejoy80
Oil short got triggered @ 85.40 SL @ 86.40 - 2%

Added another UJ position @ 93.60, G/J @ 144.72 CJ@ 93.70 and went long AU again @ 0.9353 (should never had taken profit on earlier long)...2% on AU 0.5% on others.

Notice how dow has taken off but xxx/JPy is stalling (but xxx/USD is rising with Dow)...if only US retail and CPI numbers had been bad and JP Morgan + Intel earnings poor then xxx/JPY would have taken off lower fast....oh well.
You could see something was coming...as xxx/jpy should have been going up with dow and xxx/usd with increasing risk apetite and oil soaring yet c/j not moving...a drop was coming
  • #130
  • Apr 14, 2010 11:08am Apr 14, 2010 11:08am
Right might be closing these too soon (which is my biggest weakness) but I've closed all xxx/jpy pairs as follows:

C/J closed @ 93.20
U/J closed @ 92.90
a/J closed @ 86.90
G/J closed @ 143.80

TAG now @ 155.75% (those trades added over 30% to total account growth!)
  • #131
  • Apr 14, 2010 11:22am Apr 14, 2010 11:22am
Hi Lovejoy,

Nice thread i like your trading style also finnaly somoene who trades oil aswell not many do that.

This what i see on oil might go down now if it wont break trendline i saw that your stop was at 86.40 bit close now.
I am waiting for bit more confirmation and will add my shortshttp://i40.tinypic.com/wgrs75.gif
  • #132
  • Apr 14, 2010 11:31am Apr 14, 2010 11:31am
Quoting ingmarforex
Hi Lovejoy,

Nice thread i like your trading style also finnaly somoene who trades oil aswell not many do that.

This what i see on oil might go down now if it wont break trendline i saw that your stop was at 86.40 bit close now.
I am waiting for bit more confirmation and will add my shortshttp://i40.tinypic.com/wgrs75.gif
I've only recently started trading gold and oil...I find them much cleaner at times to trade in terms of clearer chart patterns than FX from my limited experience.

Reason for my trade was confluence of 61 fib, TL and weekly PPZ area...it soared above this but my SL is above the resistance zone we are now at...tempted to add another small short position.
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  • #133
  • Apr 14, 2010 12:56pm Apr 14, 2010 12:56pm
Quoting ogeid
Eventually I am wrong (I hope) E/U has at the moment also a bearish divergence in H4.

4 pips spread with Alpari and MT4 is not bad. I am looking for a new broker, I already have MT4 so I do not mind any suggestion?

Tx
Have you tried Oanda...I prefer them over any MT4 I've ever used anyday...exact lot size, better spreads on average, less slippage and easier to get filled from my own epxerience...they dont have as many pairs as MT4 to trade and their charts suck, but for an actual trading platform for a retail platform I find them much better than MT4 brokers.
  • #134
  • Apr 14, 2010 1:12pm Apr 14, 2010 1:12pm
Added a small postion on E/CAD...should have taken profit at the gap close but didnt set my alert and it had retraced by the time I'd looked at it. Bounce of the TL, short @ 1.3623, SL @ 1.3660 - 1%
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  • #135
  • Apr 14, 2010 1:34pm Apr 14, 2010 1:34pm
E/CAD looking cr*p...really should have got profit on this trade... having a trande turn from profit to full loss is very poor trading, should have set my TP or an alert but forgot...no excuse poor result.

Decided to add 1% to oil short @ 86.07, SL @ 86.40 again.
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  • #136
  • Apr 14, 2010 4:52pm Apr 14, 2010 4:52pm
This is my view on gbp/usd

http://i43.tinypic.com/xba7nk.gif
  • #137
  • Apr 15, 2010 1:03am Apr 15, 2010 1:03am
Quoting ingmarforex
This is my view on gbp/usd

http://i43.tinypic.com/xba7nk.gif
Looks good...my chart is similar...I'll be taking a counter trend short at the PPZ area you and I both marked...obvious area to expect a reaction...might not be a trend reversal but with a tight SL could get a few pips.

Went short G/J @ 144.76 SL @ 145.30 - 2% at risk...would have been better to get in nearer 145.00 but was asleep.
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  • #138
  • Apr 15, 2010 1:13am Apr 15, 2010 1:13am
Notice how you could have gone long after I exited on xxx/jpy and then short again at the S/R areas. I've attached AJ chart to show this.

The big nice surprise uppn looking at my charts was that EUR/CAD has rebounded down , have moved SL on second entry to BE and TP is the gap closure again which is now support area.

Exited EG short from 12/4 (0.8815) @ 0.8793.

TAG now @ 158.09%
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  • #139
  • Apr 15, 2010 1:41am Apr 15, 2010 1:41am
Quoting nasir.khan
.
Moved the stop from 145.40 to 145.10.

lets see.
.
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  • #140
  • Apr 15, 2010 1:54am Apr 15, 2010 1:54am
Quoting nasir.khan
Moved the stop from 145.40 to 145.10.

lets see.
.
Wise move I feel...it has hit first trouble area and reversed...need to remind myself sometimes that these are counter-trend trades and thus need to cut quickly if they dont work..had quite a few of them this week, want to try and play some more trends ... peaks / valleys etc.
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